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Is it this bad in Europe and Asia? or just in the US? Almost every day we hear banks doing this, banks doing that - most of it is unethical, and many of it pro
by vijayr 14y ago
Is it this bad in Europe and Asia? or just in the US? Almost every day we hear banks doing this, banks doing that - most of it is unethical, and many of it probably illegal, yet nothing seems to be happening to them. This is depressing.
- spydum 14y agoEthics and legality don't always align. You will always find people who are willing to push the ethical line a bit further out to satisfy their greed. Then of course, it's not too much further to meander across that legal line as well. What can government/regulators do? If they respond harshly and abruptly, they are criticized as being too heavy handed, and enemies of capitalism. If they respond slowly and deliberately, they are called slow and ineffective.
- Drbble 14y agoParaphrasing: If government does the right thing, criminals hate them, and if they do the wrong thing, victims hate them. What can they do, indeed?
- rmc 14y agoI assure you European banks are just as corrupt as American banks.
- pwaring 14y agoInsider trading (and the wider 'market abuse') can be extremely difficult to prove. The FSA fines a handful of people each year, and prosecutes even fewer. If firms chose not to trade, when they otherwise would have done (which seems to be the case here), based on insider information, that is nigh on impossible to prove.
- rhizome 14y agoThe agencies who investigate what you describe are understaffed and underfunded, many say intentionally.